NEW YORK – Perry Ellis International reported an expected net decline for the second quarter driven by retail consolidation and a reduction in off-price sales.
The company announced a slightly wider net loss for the second quarter ended July 31, down to $2.5 million, from $2.4 million for the same period last year. The diluted loss per share stayed at 25 cents.
Perry Ellis’ sales declined 10.1 percent for the second quarter, dropping from $184.3 million to $165.7 million.
Earnings for the six-month period declined 46.2 percent to $3.5 million, or 34 cents a diluted share, from $6.5 million, or 65 cents a diluted share, for the same period last year. Sales for the half were down 7.6 percent to $374 million from $404.7 million.
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